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Thursday, May 10, 2012

50 NEW BRANDS TO DEBUT IN BANGKOK

Two long-awaited international fashion brands _ Ralph
Lauren and H&M _ are ready to debut in Thailand soon.

The American Ralph Lauren brand will open its first
flagship store in Thailand at Central Embassy, the new complex at the
Phloenchit intersection.

The H&M clothing chain, which has more bargain
offerings, will anchor its first store with a two-storey unit at Siam Paragon
in October.

At least 50 other brands and
fashion, lifestyle, coffee, food, entertainment and automotive products stores
are planning to come to Bangkok by next year.

They include Levi's Vintage, Oakley, Agnes B, Giuseppe
Zanotti and Sretsis Martina, as well as Miu Miu, which is ready to re-enter the
Thai market after withdrawing several years ago.

Kriengsak Tantiphipop, the chief marketing officer of
Siam Paragon Development Co, said the company is allocating about 1 billion baht from 2010-13 on a facelift
for the mall to allow the parade of new brands.

More than 30 new brands will open
their doors in Siam Paragon this year.

Louis Vuitton will open its new shop in Siam Paragon in
July, followed by Miu Miu, a Rolls-Royce showroom and Kidzania education
centre.

H (Thailand) Co, operator of the H&M brand, has a 3,000-square-metre shop.

Mr Kriengsak said the entry of new 30
luxury brands to Paragon will create investment of 2-3
billion baht.

"Thailand is full of Chinese
tourists and has become an important destination for luxury and lifestyle
brands to have a presence," he said.

Luxury consumption in China is about 20%
of global luxury consumption now and is expected to increase to 50%
over the next 10-13 years, he added.

Mr Kriengsak said overall demand for luxury products grew
by 30-40% per year the past five years and is expected to
rise by 20-40% this year.

Sales at Siam Paragon Development in the first quarter
rose by 15%, higher than earlier projected.

The company expects its sales for the whole year will
grow by 20% to more than 10 billion
baht.

The Siam Paragon Luxury Property Showcase 2012,
an exhibition of A-class houses, condominiums and resorts with more than 10,000 units in prime locations across the
country, just started and runs until May 20 in Siam
Paragon's Hall of Fame.